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Report No. : |
325798 |
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Report Date : |
04.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
SH POLYCHEM
CORP. |
|
|
|
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Registered Office : |
118, Eonju-ro, Gangnam-gu, Seoul, Korea,
135-856, Rm. 615, Woosung Character 199 Officetel |
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|
|
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Country : |
South Korea |
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|
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Financials (as on) : |
31.12.2012 |
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|
|
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Date of Incorporation : |
18.02.2008 |
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|
|
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Com. Reg. No.: |
105-87-18029 |
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|
|
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Legal Form : |
Co., Ltd by Shares |
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|
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Line of Business : |
Wholesale of Other Chemical Materials and Chemical Products |
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|
|
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No. of Employees : |
1 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
Unknown |
|
Litigation : |
Clear |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
South Korea |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
SOUTH KOREA - ECONOMIC OVERVIEW
South Korea over the past four decades has demonstrated
incredible economic growth and global integration to become a high-tech
industrialized economy. In the 1960s, GDP per capita was comparable with levels
in the poorer countries of Africa and Asia. In 2004, South Korea joined the
trillion-dollar club of world economies, and is currently the world's 12th
largest economy. A system of close government and business ties, including
directed credit and import restrictions, initially made this success possible.
The government promoted the import of raw materials and technology at the
expense of consumer goods, and encouraged savings and investment over
consumption. The Asian financial crisis of 1997-98 exposed longstanding
weaknesses in South Korea's development model, including high debt/equity
ratios and massive short-term foreign borrowing. GDP plunged by 7% in 1998, and
then recovered by 9% in 1999-2000. South Korea adopted numerous economic
reforms following the crisis, including greater openness to foreign investment
and imports. Growth moderated to about 4% annually between 2003 and 2007. South
Korea's export focused economy was hit hard by the 2008 global economic
downturn, but quickly rebounded in subsequent years, reaching over 6% growth in
2010. The US-Korea Free Trade Agreement was ratified by both governments in
2011 and went into effect in March 2012. Between 2012 and 2014, the economy
experienced sluggish growth because of external market slowdowns. The
administration in 2015 is likely to face the challenge of balancing heavy
reliance on exports with developing domestic-oriented sectors, such as
services. The South Korean economy's long-term challenges include a rapidly
aging population, inflexible labor market, dominance of large conglomerates
(chaebols), and the heavy reliance on exports, which comprise about half of
GDP.
|
Source
: CIA |
|
Company Name |
SH POLYCHEM
CORP. (Korean Company
Name : “(주)에스에이치폴리켐”) |
|
Registered Address |
118, Eonju-ro, Gangnam-gu, Seoul, Korea |
|
Building |
Rm. 615, Woosung Character 199 Officetel |
|
Zip Code |
135-856 |
|
Tel |
+82-2-3143-1406 |
|
Fax |
+82-2-3143-1407 |
|
E-mail |
stanley@shcorp.kr |
|
Website |
www.shcorp.kr |
|
Trading Address |
Rm. 615, Woosung Character 199 Officetel, 118,
Eonju-ro, Gangnam-gu, Seoul, Korea (Old Address System : Rm. 615, Woosung
Character 199 Officetel, 467-24, Dogok 2-dong, Gangnam-gu, Seoul, Korea) |
|
Tel |
+82-2-3143-1406 |
|
Fax |
+82-2-3143-1407 |
|
Other Address |
|
|
Tel |
|
|
Fax |
|
|
Type |
Export/Import |
|
Industry |
Wholesale of Other Chemical Materials and Chemical Products |
|
Main Business |
Polyurethane Hardener, Paint Material, Paint Additives |
|
Sub
Business |
|
|
Established (mm/dd/yyyy) |
02/18/2008 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Resins(13111000) |
|
Sell |
Chemistry reagents or solutions(41116105) |
|
Sell |
Polyurethane resins(13111061) |
|
Sell |
Chemicals including Bio Chemicals and Gas
Materials(12000000) |
|
Name |
Chung Sang-Hoon(Stanly) |
|
Address |
Suite 120-1003, 54, Sunae-dong,
Bundang-gu, Seongnam-si, Gyeonggi-do, Korea |
|
Date of Birth |
02/17/1966 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
50,000,000 |
|
Employees |
1 |
|
Formation |
Co., Ltd by Shares |
|
Bank Details |
Suhyup Bank |
|
Corporate Registered No. |
110111-3842469 |
|
Business Registered No. |
105-87-18029 |
|
Permit & Licenses |
N/A |
|
Shareholder Position |
N/A |
|
Company History |
02/18/2008 Incorporated as the present name 04/16/2010 Moved to the present HQ address
from 200-30, Donggyo-dong, Mapo-gu, Seoul, Korea 11/29/2014 Moved to the present HQ address from Rm. 302, Woosung
Character 199 Officetel, 467-24, Dogok 2-dong, Gangnam-gu, Seoul, Korea |
|
|
|
Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Chung Sang-Hoon (Stanly) |
Male |
Korean |
02/18/2008 |
|
Auditor |
M/S. |
Lee Soo-Mi |
Female |
Korean |
02/18/2008 |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
|
|
|
|
|
2013 |
- |
- |
- |
|
2012 |
5,618,764,000 |
369,912,000 |
1,052,000 |
|
2011 |
5,369,342,000 |
204,181,000 |
16,754,000 |
|
2010 |
4,588,572,000 |
110,817,000 |
15,434,000 |
|
2009 |
1,771,958,000 |
381,473,000 |
24,550,000 |
|
2008 |
- |
- |
- |
The latest
financials are not available, and the Subject Company does not have any
obligations to release its financials to the public.
|
Authorized Capital(KRW) |
200,000,000 |
|
Paid-Up Capital(KRW) |
50,000,000 |
|
Total Issues Shares |
10,000 |
|
Balance Sheet |
|||
|
Unit : Korean Won |
As of 12/31/2013 |
As of 12/31/2012 |
As of 12/31/2011 |
|
Total Assets |
|
369,912,000 |
204,181,000 |
|
Current Assets |
|
|
|
|
-Quick Assets |
|
|
|
|
-Inventories |
|
|
|
|
Fixed Assets |
|
|
|
|
-Investment |
|
|
|
|
-Tangibles |
|
|
|
|
-Intangibles |
|
|
|
|
Total Liabilities |
|
248,060,000 |
83,381,000 |
|
Current Liabilities |
|
|
|
|
Fixed Liabilities |
|
|
|
|
Capital Stock |
|
50,000,000 |
50,000,000 |
|
Capital Surplus |
|
|
|
|
Profit Surplus |
|
|
|
|
Capital Adjustment |
|
|
|
|
Total Equity |
|
121,852,000 |
120,800,000 |
|
Liab. & Shareholder’s Equity |
|
369,912,000 |
204,181,000 |
|
Income Statement |
|||
|
Unit : Korean Won |
As of 12/31/2013 |
As of 12/31/2012 |
As of 12/31/2011 |
|
Sales |
|
5,618,764,000 |
5,369,342,000 |
|
Cost of Sold Goods |
|
|
|
|
Gross Profit |
|
|
|
|
Selling & Admin. Expenses |
|
|
|
|
Operating Income |
|
3,758,000 |
3,248,000 |
|
Non-Operating Income |
|
|
|
|
Non-Operating Expenses |
|
|
|
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Income Before Taxes |
|
|
|
|
Income Taxes Expenses |
|
|
|
|
Net Income |
|
1,052,000 |
16,754,000 |
|
Main Products & Services |
Chemicals, Food Additives and Toxic
Chemicals Polyurethane Hardner |
|
Detailed Products Spec. |
|
|
Technologies Acquired |
|
|
Suppliers |
|
|
Customers |
PENINSULA POLYMERS LLC. 920 EAST 14TH AVE SUITE 201 NORTH KANSAS
CI, USA |
|
Competitors |
YEEYOUNG CERACHEM CO., LTD. RM. 722, SUSEO HYUNDAI VENTURE VILLE, 713,
SUSEO-DONG, GANGNAM-GU, SEOUL, KOREA TEL:+82-2-420-0331 FAX:+82-2-424-1877 HAXION SPECIALTY CHEMICALS KOREA CO., LTD. 580-3, HWASAN-RI, ONSAN-EUP, ULJU-GUN,
ULSAN, KOREA TEL:+82-52-231-5174 FAX:+82-52-231-5028 YOUNG-HI CHEMICALS LTD. RM. 401, JUNGANG BLDG., 411-18, DOGOK
2-DONG, GANGNAM-GU, SEOUL, KOREA TEL:+82-2-572-8516 FAX:+82-2-572-8516 |
|
Affiliates |
|
|
Overseas Office |
SH POLYCHEM
CORP.(CANADA OFFICE) NO.902, 28,
WILLIAM CARSON CRES. TORONTO, ON, CANAADA, M2P 2HI TEL:+1-647-350-7334 |
The Subject deals
with the companies in Singapore and USA.
Not Available.
------
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.85 |
|
|
1 |
Rs.98.12 |
|
Euro |
1 |
Rs.71.28 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
|
-- |
NB |
New Business |
-- |
|
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major sections
of this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.